The Bangladesh Lubricants Market size is estimated at 201.10 Million liters in 2024, and is expected to reach 292.30 Million liters by 2029, growing at a CAGR of 7.76% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market in 2020 because it significantly impacted supply chains and caused several supply chain disruptions that led to production halts and other issues in almost all industries, such as automotive, heavy equipment, etc. For instance, according to GoodCarBadCar's data, the country's new motor vehicle sales in 2020 were 13.4% lower than in 2019. However, the conditions started recovering in 2021 such that the new motor vehicle sales in 2021 were recorded to be 15.47% higher than in 2020. Such growth across sectors helped Bangladesh's lubricant market recover from the pandemic.
The lubricants market in Bangladesh is partially consolidated in nature. The key players in the market (not in any particular order) include MJL Bangladesh PLC, BP p.l.c., Lub-rref (Bangladesh) Ltd., Navana Petroleum Limited, and Gulf Oil Bangladesh Limited, among others.
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